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Jan 28, 2013
01/13
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[applause] the house will not consider another vote to increase the debt ceiling unless the senate passes a budget. we are going to point the country in the right direction. we are going to cut spending. [applause] when conservatives disagree on the way forward. we have never marched in lockstep. that is not what we do. and healthy debate is a good and needed thing. we can do that in private without doing it in public. all we ask of each other is thatwe need to give an honest account of our actions and the reasons for that. we should challenge the left and not each other. our founders were men of prudence. take james madison. nowadays they call him the founder of the constitution. but at the constitutional convention, he lost some key governments -- arguments. he fought for plan to give the states the same number of states in the government. he thought it was deeply unjust. in the first, he wanted to give congress even more power. he wanted it to be able to veto state laws. in both cases, madison argued vigorously for his side. and in both cases, he lost that argument. butwhen it came tim
[applause] the house will not consider another vote to increase the debt ceiling unless the senate passes a budget. we are going to point the country in the right direction. we are going to cut spending. [applause] when conservatives disagree on the way forward. we have never marched in lockstep. that is not what we do. and healthy debate is a good and needed thing. we can do that in private without doing it in public. all we ask of each other is thatwe need to give an honest account of our...
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Feb 17, 2013
02/13
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a battle over the government shutdown, the debt ceiling. where does this all end? >> it doesn't end. this is democratic politics in an age where we've made promises we can't keep and intractable budget ceilings we have to bump up. let me give you two examples this week. the navy citing the sequester delayed the deployment of the aircraft carrier "truman" undermining our pledge to have two carrier groups in the persian group to keep pressure on iran. citing the sequester. you telling me the navy can't find other ways to economize without this flamboyant and provocative way of trying to pressure congress? second, this week we learned the agriculture department has a diversity awareness program. it doesn't cost much money, in which they teach the bureaucrats in the agriculture department to refer to the pilgrims as illegal aliens and minorities as emerging majorities. it's a small amount of money but a huge symptom of the utter contempt with which washington treats taxpayers' money. two good reasons right there to go ahead with the sequester.
a battle over the government shutdown, the debt ceiling. where does this all end? >> it doesn't end. this is democratic politics in an age where we've made promises we can't keep and intractable budget ceilings we have to bump up. let me give you two examples this week. the navy citing the sequester delayed the deployment of the aircraft carrier "truman" undermining our pledge to have two carrier groups in the persian group to keep pressure on iran. citing the sequester. you...
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Sep 8, 2013
09/13
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in the next three weeks we face the implementation of the affordable care act, debt ceiling fight, again, additional sequester cuts and expiring farm bill, debate over comprehensive immigration reform and sexual assault. oh, and i'm sure we will hear a thing or two about benghazi. joining me now, editorial page editor for washington examiner. perry bacon, and professor defrancesca desoto. i want to start with you, mark. it seems syria may overshadow some of these items. but one of the things we heard this week from buck mckion is that his putting forward the suggestion that they hold the syria resolution hostage for certain cuts that the gop wants in the sequester. are we going to really see that kind of horse trading going on? >> i wouldn't be at all surprised to see something like that. i think mckion's point is that there is a growing feeling on the house republican side. that whatever the outcome of syria might be, that now is an nunt their view to limit or repeal, in fact, military side of sequestration and balance that with cuts. bigger cuts. domestic side. >> but wouldn't it be mo
in the next three weeks we face the implementation of the affordable care act, debt ceiling fight, again, additional sequester cuts and expiring farm bill, debate over comprehensive immigration reform and sexual assault. oh, and i'm sure we will hear a thing or two about benghazi. joining me now, editorial page editor for washington examiner. perry bacon, and professor defrancesca desoto. i want to start with you, mark. it seems syria may overshadow some of these items. but one of the things we...
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Jan 25, 2013
01/13
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i have said many times, i would oppose the budget control act which will raise the debt ceiling. in part, because the way the question provisions were written. they were unbalanced. 50% of our cuts come from the defense. it just cut everything by the same amount as opposed to give our military leaders the pentagon to cut from unsuccessful and outdated programs and put more money into the most successful and important programs. with that said, the only thing worse than the defense cuts and sequestration is no cuts at all. if we don't have the sequestration cuts at the top line revenue level went we will increase the debt ceiling with almost nothing to show for it. part of the reasons why the house republicans this week, extended the debt cerealing for three months to feel out paul ryan and his team to draft a budget that gets us balanced in 10 years but also protects the department of defense from further cuts because they have already been cut by $500 billion. >> do you get the idea, do you get the sense that americans are tired of world business. that doing some business here at
i have said many times, i would oppose the budget control act which will raise the debt ceiling. in part, because the way the question provisions were written. they were unbalanced. 50% of our cuts come from the defense. it just cut everything by the same amount as opposed to give our military leaders the pentagon to cut from unsuccessful and outdated programs and put more money into the most successful and important programs. with that said, the only thing worse than the defense cuts and...
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Jan 6, 2013
01/13
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can you raise that debt ceiling without agreeing to some spending cuts? >> well, i think we're going to need both. what the president has said is we need some balance here. from this point forward -- >> excuse me what, the president said he's not going to deal. he's not going to negotiate. he just wants you to raise it. is that going to happen? >> let me add one thing. i think in the course of the state of the union address, and the president has already said, it we're going to be talking about further deficit reduction, but it has to be done in a balanced way. at the heart of this debt ceiling debates is whether or not we're going to continue to reduce the deficit. i think we need to do it in a thoughtful way. and the president said as long as it's balanced he's open to the conversation. >> okay. so i'm confused because i've heard him say multiple times i am not going to negotiate over raising this debt ceiling. so are you going to negotiate? >> i can just tell you this. the debt ceiling is something that we should put behind us in a hurry. you know, it
can you raise that debt ceiling without agreeing to some spending cuts? >> well, i think we're going to need both. what the president has said is we need some balance here. from this point forward -- >> excuse me what, the president said he's not going to deal. he's not going to negotiate. he just wants you to raise it. is that going to happen? >> let me add one thing. i think in the course of the state of the union address, and the president has already said, it we're going...
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there's a ton of uncertainty, especially with the spending cuts out there the debt ceiling, so out there, and i wonder how that has been affected by the lack of performance. another thing that kept being discussed was tax increases or no tax increases. for the tax code in general needs to be overhauled. and what can be done to tackle the deck dataset? jared: 60 or 70% of working americans have done some meals prepared for taxes for them. you could spend three or four or $500 sometimes preferring the sexes. especially if you're following deductions and such. i think that a reformed drug tax system, mainly at the corporate level -- but for the average individual, wouldn't it be nice to clean it up? chances of that happening are slim to none. i think that is a ways off. in terms of how that affects the markets. i don't think that that is at the forefront of the market right now. it's something thht we have been dealing with. for as long as i have been alive, filing my taxes has been one of the biggest frustrations of my year. and again, the average american does has to deal with that and it
there's a ton of uncertainty, especially with the spending cuts out there the debt ceiling, so out there, and i wonder how that has been affected by the lack of performance. another thing that kept being discussed was tax increases or no tax increases. for the tax code in general needs to be overhauled. and what can be done to tackle the deck dataset? jared: 60 or 70% of working americans have done some meals prepared for taxes for them. you could spend three or four or $500 sometimes...
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Jan 3, 2013
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to push the country into debt ceiling, unless the republicans allow enormous cuts. and no tax increases. so in the end you will have enormous spending cuts and increases in taxes. the republicans say no way, they will not be held hostage on the debt ceiling. and if republicans want cuts coming up, they have to off set it with tax increases. and if the white house is right about it, then i think we'll look back, add up all the numbers and it will look like a pretty good deal. with one exception, we're losing the stimulus and not replacing it. but if the white house is right they can get taxes in the next phase of the deal too, i think it will look good. >> yeah, ezra, and i'm prepared to analyze what this deal was right here without necessarily making it how good it is depending on what happens in the future. but i agree with you what is coming. and jared, i agree with the president very carefully about what he is saying, he will not negotiate on the debt ceiling. he has absolutely ruled out using his own executive powers raising the debt ceiling. so it seems to me w
to push the country into debt ceiling, unless the republicans allow enormous cuts. and no tax increases. so in the end you will have enormous spending cuts and increases in taxes. the republicans say no way, they will not be held hostage on the debt ceiling. and if republicans want cuts coming up, they have to off set it with tax increases. and if the white house is right about it, then i think we'll look back, add up all the numbers and it will look like a pretty good deal. with one exception,...
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Jan 5, 2013
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raise the debt ceiling and actually plan some cuts, but i don't think we should do the kind of cutting that's anticipated in the sequester or mandated in the sequester. we have a fragile economy, it's recovering, putting 100 billion or $200 billion cut into effect right now, taking that money out of economy, would not be a good thing. i think we can back load some cuts to the later part of the budget window and have an affect. i want to say one thing. all of this talk about greece. i think anybody who brings up greece, comparing it to the united states economy, has no business talking about the economy. they don't know what they are talking about. comparing greece's economy to the united states, their army to ours. there is no comparison. we're a sovereign, currency nation. we can control so many things that the greek government can't. so we just ought to forget that kind of talk. and we're the strongest economy in the world and we have many more options than other nations in the country. >> glad to hear you say it. we look forward to hearing you from again. >>> nancy pelosi is defendi
raise the debt ceiling and actually plan some cuts, but i don't think we should do the kind of cutting that's anticipated in the sequester or mandated in the sequester. we have a fragile economy, it's recovering, putting 100 billion or $200 billion cut into effect right now, taking that money out of economy, would not be a good thing. i think we can back load some cuts to the later part of the budget window and have an affect. i want to say one thing. all of this talk about greece. i think...
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Jan 2, 2013
01/13
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probably right at the same time you have the spending cuts, the sequest sequester, the debt ceiling, and the budget resolution. that's through march. >>> break it down for me. just to get through the sequester what will they have to deal with? >> making decisions about cuts and about budget priors is what got us in this mess in the first place, quite frankly. i want to read something that one of the these analysts told us is so fascinating. talking about the drama and the chaos around this. the process was so kay outic, we're likely to see a further u.s. downgrade, meaning there will be so many opportunities for washington to show us how they can't compromise and really get on a sustained path to, you know, budgeting. what is more fundamental at your house than the budget? what comes? what goes out, and the priorities that you make based on that budget, paying for college or paying for a new car? paying for this or that? paying down debt or getting a bigger house? washington can't do that. washington has shown it can't do that. that's why international investors -- >> but they are go
probably right at the same time you have the spending cuts, the sequest sequester, the debt ceiling, and the budget resolution. that's through march. >>> break it down for me. just to get through the sequester what will they have to deal with? >> making decisions about cuts and about budget priors is what got us in this mess in the first place, quite frankly. i want to read something that one of the these analysts told us is so fascinating. talking about the drama and the chaos...
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Jan 5, 2013
01/13
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ceiling debate to try to cut spending. so it looks like we are gearing up for another big battle, craig. this vacation will not last very long. >> kristen welker with a whole lot of day left in hawaii. i expect you have plans as well. good luck, kristen. >> thanks, craig. >> out with the old and in with the new. we're not just talking about out with the old and in with the new. we're not just talking about the fights on the horizon that will include a few familiar faces and washington post ed o'keefe, good afternoon to you, gentlemen. >> gentlemen. >> ed, the end of 2012, all about the fiscal cliff. right now we're talking about the debt ceiling discussion ahead. how tough of a fight is president obama going to be coming home will to? >> oh, a very tough one because republicans now determined more than ever to get spending cuts as part of the fiscal deal on the fiscal cliff. the president said he's not negotiating over it and the new congress began making it very clear that spending cuts will be what they focus on like a l
ceiling debate to try to cut spending. so it looks like we are gearing up for another big battle, craig. this vacation will not last very long. >> kristen welker with a whole lot of day left in hawaii. i expect you have plans as well. good luck, kristen. >> thanks, craig. >> out with the old and in with the new. we're not just talking about out with the old and in with the new. we're not just talking about the fights on the horizon that will include a few familiar faces and...
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the debt ceiling is not part of that, something democrats wanted to extract more spending cuts in later debate. the headline here according to a g.o.p. aide, the whole thing is done. it does not mean it is a done deal entirely. but this just developing in the last couple of minutes. adam: when you say the whole thing is done, why is the vice president going to the capital? it sounds to me there are still democrats who need arm-twisting because there was at least part of that side leadership was confirmeconcerned about what the president backing off his pledge to raise income tax and people making $250,000, not $400,000. >> exactly. vice president joe biden on the hill for this meeting with the immigrants because there is an agreement among the principals. leaders, republicans, they still needs senate immigrants support. they still need support to get this thing through the hills. while there may be agreement at the top, it doesn't necessarily mean it will pass congress. adam: so we are on a 30-yard line with 70 needed for a touchdown. >> there is not a scheduled vote, we don't know if t
the debt ceiling is not part of that, something democrats wanted to extract more spending cuts in later debate. the headline here according to a g.o.p. aide, the whole thing is done. it does not mean it is a done deal entirely. but this just developing in the last couple of minutes. adam: when you say the whole thing is done, why is the vice president going to the capital? it sounds to me there are still democrats who need arm-twisting because there was at least part of that side leadership was...
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Jan 5, 2013
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that president bush advocated, that by operation of accepting that budget the debt ceiling would be increased or decreased to accommodate the budget that congress voted for. so it takes out the hypocrsy, so the idea of defaulting on the bill can't be part of the equation. >> i spoke to minority leader nancy pelosi, she says in the white house she is amazed when president obama begins to speak about the debt limit. his whole demeanor changes, he becomes very hard line on it. are your colleagues standing firm on it? are they radicalized on the debt limit deal that the country can be held hostage? are they confident there needs to be a negotiation here? >> no, i think there is zero tolerance in the caucus for using that as a tactic, and what happens is, we blew it frankly in august. we allowed a link to occur in the budget and debt limit. it led to the first downgrade in the triple a bond rating in the history of the country. and the cost, according to the treasury is going to be about $90 billion in additional interest payments over the next ten years. and by the way, here is the thin
that president bush advocated, that by operation of accepting that budget the debt ceiling would be increased or decreased to accommodate the budget that congress voted for. so it takes out the hypocrsy, so the idea of defaulting on the bill can't be part of the equation. >> i spoke to minority leader nancy pelosi, she says in the white house she is amazed when president obama begins to speak about the debt limit. his whole demeanor changes, he becomes very hard line on it. are your...
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Jan 1, 2013
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the debt ceiling deal -- these inskrim nat cuts are being displayed. they would happen many march if nothing is done. leadership is telling their rank-and-file, that's the ground we can fight on. that's when we're really going to get our way. >> many people are horrified at the prospect of another political battle surrounding the good faith and credit of the united states government. after all, they point out, it is the congress that passed these spending bills that the federal government is trying to pay for. congress is essentially saying, here, do this, but we're not going to give you the money to do it. that is going to be a fascinating game. people are pretty much tired of dysfunction here in the beltway, but on it goes. at any rate -- >> let me ask you about the white house side of this. i'm assuming that, you know, looking forward to the triple play, the white house thinks they have a couple of good things going for them, and both of them are speeches. one is the state of the union, and the other one even before that is the inaugural. >> yeah, a
the debt ceiling deal -- these inskrim nat cuts are being displayed. they would happen many march if nothing is done. leadership is telling their rank-and-file, that's the ground we can fight on. that's when we're really going to get our way. >> many people are horrified at the prospect of another political battle surrounding the good faith and credit of the united states government. after all, they point out, it is the congress that passed these spending bills that the federal government...
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Jan 6, 2013
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two senators are making the threat and speaker john boehner says he's ready to use the debt ceiling fight to get the cuts he wants. fasten your seat belts. a few days late, but the house voted for hurricane sandy aid. but the conservative club for growth promised to punish members for approvining aid and7 house republicans voted no. we'll ask a proponent for aid to defend that one. "and zero dark thirty" has suggested that perhaps torture led to the killing of osama bin laden. now the senate is looking into whether the flim makilmmaker ha inappropriate access to confidential information. and leave it to vice president joe biden. >> hey, mom, how are you? good to see you. i'm joe biden. a smile that lights up the whole chamber. spread your legs, you're going to be picked. >> look at that guy, still working out. >> his glad handing at yesterday's congressional swearing in drew snickers. finally, michele bachmann at it again trying for 394th time. check out the side show. we begin with republicans threatening to shut down government if they don't get the spending cuts they want. ohio republi
two senators are making the threat and speaker john boehner says he's ready to use the debt ceiling fight to get the cuts he wants. fasten your seat belts. a few days late, but the house voted for hurricane sandy aid. but the conservative club for growth promised to punish members for approvining aid and7 house republicans voted no. we'll ask a proponent for aid to defend that one. "and zero dark thirty" has suggested that perhaps torture led to the killing of osama bin laden. now the...
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Jan 10, 2013
01/13
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we don't have a fight or a crisis over the debt ceiling. we have a fight in crisis overspending that causes debt. if the spending or cut and there was an agreement but place on the way to rein in explosive and -- entitlement spending and brought the debt under control, no one would even mention the debt ceiling. the key will be to focus on the real problem, which is the debt. acknowledge solution for anyone not living in budgetary fantasyland. make some progress on that. gerri: at think it's budget fantasyland for us. well, the senate has not backed the budget in 1,351 days, gretchen. come on. we are going to -- our debt is going to get downgraded by standard and poor's and moody's and everyone else, and we will have a sell-off of 2,000 points in the stock market, right? >> you're right. on top of not having a budget, we have also had $5 trillion worth -- five years worth of trillion dollar deficits which is what we are heading toward. the four past years, and the cbo coming out saying we're headed into our fifth. gerri: unbelievable. tyler
we don't have a fight or a crisis over the debt ceiling. we have a fight in crisis overspending that causes debt. if the spending or cut and there was an agreement but place on the way to rein in explosive and -- entitlement spending and brought the debt under control, no one would even mention the debt ceiling. the key will be to focus on the real problem, which is the debt. acknowledge solution for anyone not living in budgetary fantasyland. make some progress on that. gerri: at think it's...
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Jan 19, 2013
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limit ceiling for three months, the bill does not ask for spending cuts but could prevent a major fight with the white house. it does put the senate in an awkward position, by asking them to vote in three months when the debt ceiling has to be raised again. the white house said to be encouraged but a provision calls for cutting pay for the chamber that does not passes the budget. some democrats not happy. and house minority speaker nancy pelosi saying it's a gimmick, unworthy of the challenges we face and the debate we should be having. the message from the american people is clear, no games no default. for more on this, i would like to bring kristin. what is the white house saying about the issue? >> reporter: craig, they are saying that they are encouraged by the fact that house speaker, john boehner, is putting forward a proposal that increases the debt limit without an equal amount of spending cuts. that was his long-held position a and he is abandoning that position, and saying that he will increase the debt ceiling for a period of three months and in that timeframe, the congress h
limit ceiling for three months, the bill does not ask for spending cuts but could prevent a major fight with the white house. it does put the senate in an awkward position, by asking them to vote in three months when the debt ceiling has to be raised again. the white house said to be encouraged but a provision calls for cutting pay for the chamber that does not passes the budget. some democrats not happy. and house minority speaker nancy pelosi saying it's a gimmick, unworthy of the challenges...
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Feb 13, 2013
02/13
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debt ceiling vote, along with new worries over the effect of any cuts on a still-weak economy. at issue is nothing less than the size and responsibility of the federal government. we call the film "cliffhanger." frontline is made possible by contributions to your pbs station from viewers like you. and by the corporation for public broadcasting. major support for frontline is provided by the john d. and catherine t. macarthur foundation, committed to building a more just, verdant and peaceful world. more information is available at macfound.org. additional funding is provided by the park foundation, dedicated to heightening public awareness of critical issues. and by the frontline journalism fund, with a grant from scott nathan and laura debonis. >> polls open across the... >> it's going to be a fierce battle for control of the house and the senate... >> one of the most closely watched midterm elections in years... >> decision day, voters across america head to the polls for midterm elections, with control of congress hanging in the balance... >> 435 house seats are in contentio
debt ceiling vote, along with new worries over the effect of any cuts on a still-weak economy. at issue is nothing less than the size and responsibility of the federal government. we call the film "cliffhanger." frontline is made possible by contributions to your pbs station from viewers like you. and by the corporation for public broadcasting. major support for frontline is provided by the john d. and catherine t. macarthur foundation, committed to building a more just, verdant and...
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Jan 6, 2013
01/13
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the problem they have now with the debt ceiling is this is again playing roulette. what they have to do is hey ha to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. advice is' thoughtful, but when asked if they would expect -- accept $10 for $1, everyone said it was unacceptable. we are in a position where we'd like to take tough positions but we do not like to make tough calls. >> i think we will see something inherently different. i think the president is serious when he says he will not negotiate over the debt ceiling. he should not. this is something that is artificial. >> will the new congress make a difference? more women, more latinos, gays and lesbians. will the makeup of congress make a difference? >> if anything, congress is more polarized because of redistricting. this is part of the problem. >> you do not see a ted cruz of texas and elizabeth warren coming to terms over legisl
the problem they have now with the debt ceiling is this is again playing roulette. what they have to do is hey ha to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. advice is' thoughtful, but when asked if they would expect -- accept $10 for $1, everyone said it was unacceptable. we are in a position where we'd like...
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Oct 20, 2013
10/13
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republicans wanted the confrontation over reopening government and increasing the debt ceiling. they thought increasing the debt ceiling was such an important piece of legislation that they might be able to barter and get something for it. this sets a that precedent, what happened this week, in which we will not see this kind of governing anymore? they may have learned that -- about the balance of power when you have the president of one party? >> that is a really big question. think we are ever going to persuade the tea party caucus , this really reckless group, that they should not try again to shut down the government or should down the debt ceiling. the question is like other leaders in the house. are they going to step up and try to forge bipartisan compromise? they just commissions and report saying since the 2010 elections nineost the country hundred thousand jobs. these are self-inflicted wounds. we really hope they will get beyond that. that will depend on the leadership stepping up. one thing they could do is show that they are going to allow democracy to work in the h
republicans wanted the confrontation over reopening government and increasing the debt ceiling. they thought increasing the debt ceiling was such an important piece of legislation that they might be able to barter and get something for it. this sets a that precedent, what happened this week, in which we will not see this kind of governing anymore? they may have learned that -- about the balance of power when you have the president of one party? >> that is a really big question. think we...
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Jan 1, 2013
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mandatory cuts, the sequestration, that is when the united states hits the lawful debt ceiling. so there will be a huge fight over that in two months, and essentially what we're doing is we have agreed on the income tax rates. $400,000 for individuals, $450,000 for couples filing jointly, below which the tax rates will remain the same. above which they go from 35, currently to 39.6%. however, there are a lot of things that are going to be left now. major spending cuts, any sort of grand bargain is -- we're going to go all through this again in another two months. i might also mention one thing, if the senate does get around to voting sometime tonight or in the wee hours of the morning, then its up to the house of representatives of course, and this is going to be an extremely tough sell. john boehner is not going to get a majority of his caucus in the republican side in the house of representatives. he is going to have to rely on democrats to do this. the question is will he do that, or will he try to amend this bill on the house floor and then send it back to the senate, which
mandatory cuts, the sequestration, that is when the united states hits the lawful debt ceiling. so there will be a huge fight over that in two months, and essentially what we're doing is we have agreed on the income tax rates. $400,000 for individuals, $450,000 for couples filing jointly, below which the tax rates will remain the same. above which they go from 35, currently to 39.6%. however, there are a lot of things that are going to be left now. major spending cuts, any sort of grand bargain...
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Jan 1, 2013
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ceiling and the sequestration, the sequester cuts are going to come forward. they're going to have to figure out what to do, because it's only a delay. and so, you're going to have this happen again. so you might look to see what cue the white house sends by how involved vice president biden is going forward. >> well, steve, let's talk about that. the one big issue that was not dealt with are the spending cuts, simply put on hold for two months that, by the way, seems to be the timeline for the debt ceiling debate to heat up again. for all the things this bill deals with, how big a failure was it not to address the sequester? >> well, it clearly was a failure, and the white house in the end last evening, they were the ones who wanted to deal with it. the senate democrats wanted to put that off for a year, delay the spending cuts. they don't want to cut spending at all and don't want to talk about it, but it was the white house pushing for a two or three-month delay because they wanted to bring it up now and resolve it. they wanted to bring it up at the same ti
ceiling and the sequestration, the sequester cuts are going to come forward. they're going to have to figure out what to do, because it's only a delay. and so, you're going to have this happen again. so you might look to see what cue the white house sends by how involved vice president biden is going forward. >> well, steve, let's talk about that. the one big issue that was not dealt with are the spending cuts, simply put on hold for two months that, by the way, seems to be the timeline...
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Jan 12, 2013
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i think we could see them raising the debt ceiling and i think it would involve some spending cuts. >> arthel: richard? >> look, as i'm sure your viewers know 'cause they've heard a lot of times, the debt ceiling was raised 18 times under ronald reagan. >> arthel: okay. exactly. >> and the debt tripled on his watch. and the people, like mercedes, weren't really kind of complaining about it then because yes, there was a spending problem, but the debt ceiling is not the place to do it. your argument is not with me or president clinton. talk to the ceo's of all these companies when the president said i'm not going to play that game, when he spoke to the business round table, that's what he meant. talk to the people on wall street who are really fearing that this kind of light suggestion of oh, we'll take our chances and see what happens. the day after -- >> arthel: richard -- >> it's not a joke. >> arthel: i need both of to you answer quickly. should the president bypass congress, raise the debt ceiling in the end, does this help or hinder him and his legacy? quickly, richard? , you firs
i think we could see them raising the debt ceiling and i think it would involve some spending cuts. >> arthel: richard? >> look, as i'm sure your viewers know 'cause they've heard a lot of times, the debt ceiling was raised 18 times under ronald reagan. >> arthel: okay. exactly. >> and the debt tripled on his watch. and the people, like mercedes, weren't really kind of complaining about it then because yes, there was a spending problem, but the debt ceiling is not the...
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Jan 3, 2013
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the debt ceiling was not resolved, so i suppose they got the ability to be able to still argue for cuts for the debt ceiling. so we'll put the debt ceiling in their camp because they can still hold the country hostage that way, and they also defeated -- you remember that president obama had asked for $50 billion for an infrastructure bank in his first ask? infrastructure bank. and they also got that taken off of the table. so essentially that's a win. they got that taken away. by the way the infrastructure bank would have been a great thing for this country. so we didn't get absolutely everything but looking at the whole balance sheet in a much neater way, folks, this is the scorecard. all of these wins for the democrats and these wins for the republicans. hello? it is time to stop whining. despite what you are going to hear from some progressives this is not perfect, but no compromise is perfect. would we have loved to see the tax rate increase begin at 250,000 rather than 400,000? yes. would republicans loved to have cut social security and medicare? of course they would. but in the r
the debt ceiling was not resolved, so i suppose they got the ability to be able to still argue for cuts for the debt ceiling. so we'll put the debt ceiling in their camp because they can still hold the country hostage that way, and they also defeated -- you remember that president obama had asked for $50 billion for an infrastructure bank in his first ask? infrastructure bank. and they also got that taken off of the table. so essentially that's a win. they got that taken away. by the way the...
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Jan 2, 2013
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republicans say they will force a debt ceiling negotiation and they are going to get spending cuts. it will be one to one for every dollar increase with big spending cuts and no board tax cuts. we are only going to negotiate over tax reform and spending cut packages. either one side is right in the other is wrong or they are both wrong and we will reach the debt ceiling. three possibilities on the table, one very, very dangerous for the economy. they can't all be right, only one can be right. >> when you look at this, talking about the debt ceiling, and we pushed into the first couple of months of the new year, should we expect another confrontation as we have experienced here during new year's? >> there is no evidence that congress, the american political system at this period in time can do anything in advance. they are always cramming. they are always going over cliffss. it is an embarrassing way to run a government. again, i want to be very clear that the debt ceiling is a much more dangerous negotiation. what i would love to tell you is that there is nobody in the government cr
republicans say they will force a debt ceiling negotiation and they are going to get spending cuts. it will be one to one for every dollar increase with big spending cuts and no board tax cuts. we are only going to negotiate over tax reform and spending cut packages. either one side is right in the other is wrong or they are both wrong and we will reach the debt ceiling. three possibilities on the table, one very, very dangerous for the economy. they can't all be right, only one can be right....
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Jan 15, 2013
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throughout the press conference, obama blasted republicans, who want to tie the debt ceiling to cutting spending and obama says blow up the economy and risk the full faith and credit of the united states and to do so is irresponsible, the consequences of not paying our bill would be disastrous. the charges went on and on and on and made it sound like only an anarchist would oppose raising the debt ceiling. listen to this: . >> what i will not do is to have that negotiation with a gun at the head of the american people, the threat that unless we get our way, unless you gut medicare or medicaid or otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. look, i don't think anybody would consider my position unreasonable here. democrats don't like voting for the debt ceiling when the republican's president, but you never saw the situation in which democrats suggested somehow that we would go ahead and default if we didn't get 100% of our way, that's just not how it's supposed to work. >> sean: hearing that i
throughout the press conference, obama blasted republicans, who want to tie the debt ceiling to cutting spending and obama says blow up the economy and risk the full faith and credit of the united states and to do so is irresponsible, the consequences of not paying our bill would be disastrous. the charges went on and on and on and made it sound like only an anarchist would oppose raising the debt ceiling. listen to this: . >> what i will not do is to have that negotiation with a gun at...
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Jan 14, 2013
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the debt ceiling extended to next year. 2.5 trillion. congress has not been able to identify 1.2 trillion and cuts their happy with. because the same republicans say they do not want to cut the fence. and they have claimed they do not want to gut medicare or harmed the vulnerable, but the truth of the matter is you cannot meet their own criteria without drastically cutting medicare or having an impact on medicaid or affecting the defense spending. add up.justth is not here is what would work. -- the math test is not at about it adds up to. 0.5 trillion dollars. the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax refor
the debt ceiling extended to next year. 2.5 trillion. congress has not been able to identify 1.2 trillion and cuts their happy with. because the same republicans say they do not want to cut the fence. and they have claimed they do not want to gut medicare or harmed the vulnerable, but the truth of the matter is you cannot meet their own criteria without drastically cutting medicare or having an impact on medicaid or affecting the defense spending. add up.justth is not here is what would work....
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Sep 22, 2013
09/13
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ceiling. >> there' no more cuts to make. it's really important that people understand that. we all want to reduce the deficit. remember this, president obama, when he became president, he said, i'm going to cut the deficit in half in four years. he did it in four years and three months. he did that. he's on a path to deficit reduction, we're all committed to that. put everything on the table, review it. but you cannot have anymore cuts just for the sake of cuts. right now you're taking trophies. >> you don't want to take entitlements. >> we don't want to sit at a table that says there's no place for social security in a civilized stoet. society. >> this isn't just the odd person out in their caucus. and by the way, by the way, the voucherizing of the medicare is in the ryan budget. medicare should wither on the vine. that is in the ryan budget. president washington said as he was leaving, he cautioned political parties at war with their own government. let me introduce you to the republican caucus in the house of representat
ceiling. >> there' no more cuts to make. it's really important that people understand that. we all want to reduce the deficit. remember this, president obama, when he became president, he said, i'm going to cut the deficit in half in four years. he did it in four years and three months. he did that. he's on a path to deficit reduction, we're all committed to that. put everything on the table, review it. but you cannot have anymore cuts just for the sake of cuts. right now you're taking...
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Feb 13, 2013
02/13
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concerned in this country. >> narrator: and cantor had that debt ceiling threat. if the president wouldn't cut spending, he and the new republicans would force the issue. >> we all saw the debt ceiling as the best lever we had to make some changes, to deal with the spending problem, to deal with the big government problem. >> if the government were to fail to raise the debt ceiling, you would see an immediate panic in the market... >> white house showdown with house republicans... >> narrator: at the white house, treasury secretary timothy geithner knew just how serious cantor's threat was. >> geithner says, "we could trigger a depression worse than the 1930s. it will be indelible. it will be... it will last for generations." tim geithner is one scared secretary of the treasury. >> when secretary geithner and the rest of us spoke to the president, we were very clear. a default would be unprecedented in our country. it would absolutely lead to a serious downgrading of our credit rating. >> narrator: geithner said they had only weeks to act before the country ran ou
concerned in this country. >> narrator: and cantor had that debt ceiling threat. if the president wouldn't cut spending, he and the new republicans would force the issue. >> we all saw the debt ceiling as the best lever we had to make some changes, to deal with the spending problem, to deal with the big government problem. >> if the government were to fail to raise the debt ceiling, you would see an immediate panic in the market... >> white house showdown with house...
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Jan 18, 2013
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ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. talk didn't come here to about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have unanimity in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do something. we have to act. and i hope we all agree, there is a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the one we witnessed in newtown 34 days ago cannot be continued to be tolerated. that tragedy has affected the public psyche in a way i have never seen before. the image of first graders, not only shot, but riddled with bullets.
ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. talk didn't come here to about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an...
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Jan 21, 2013
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ceiling to be hiked and try to attach some spending cuts or at least say we need to be engaged in negotiations for further increase in debt hike. i think that was a recession for republicans in reality they were losing this argue uchlt. it reengineers to the point that 60 percent of americans think you have to have spending cuts right now. >> you listen to the president's senior advisor today he was talking again about a balanced approach saying whatever deal on the debt ceiling has to have tax loopholes closed. speaker boehner brought the 800 billion in loop whole closures in the beginning of the fiscal cliff negotiation that should be a part of this deal. despite the fact that the president wanted rate increase on the fiscal deal and that's all they want. >> you can see the democrats and white house believe they have the argument in their back pocket. they offered once they can call on it again if they are going to concede on any spending cuts. none have been discussed at least in the short term are going to solve the problem. the only way you solve the problem is by structural entitlement r
ceiling to be hiked and try to attach some spending cuts or at least say we need to be engaged in negotiations for further increase in debt hike. i think that was a recession for republicans in reality they were losing this argue uchlt. it reengineers to the point that 60 percent of americans think you have to have spending cuts right now. >> you listen to the president's senior advisor today he was talking again about a balanced approach saying whatever deal on the debt ceiling has to...
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Jan 2, 2013
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and it will be attached to spending cuts and debt ceiling sort of to give everything a deadline. this is big stuff. this gets to the fundamental disagreements between democrats and republicans, hold on to your hats and glasses, folks, it will be a wild two months. >> holding on, holding on. you mentioned between democrats and republicans, key splits in the ayes and nays. run through the winners and losers in the fiscal cliff fight. >> there are obvious ones. as a couple if you make $450,000 or more than $400,000 as an individual. you will see tacks go up. if you itemize duck duckses and making more than 300,000 as a couple, $250,000 as an individual, you will see a cap phased in. there are less obvious winners that maybe you didn't know about. milk sugar and peanut producers, they have a tax cut. it has been preserved in this. long-term unemployed will see benefits extended. that's obviously very important. and doctors who might have seen payments from medicare reduced, they won't now. also the alternative minimum tax. having covered washington, we're always talking about the amt
and it will be attached to spending cuts and debt ceiling sort of to give everything a deadline. this is big stuff. this gets to the fundamental disagreements between democrats and republicans, hold on to your hats and glasses, folks, it will be a wild two months. >> holding on, holding on. you mentioned between democrats and republicans, key splits in the ayes and nays. run through the winners and losers in the fiscal cliff fight. >> there are obvious ones. as a couple if you make...
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Jan 24, 2013
01/13
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no budget, no pay. >> in the spotlight tonight, debt ceiling magic. that was house speaker john boehner after the house passed a bill making the debt ceiling disappear until may 18th, without cutting any federal spending. the stupidly named and conceived "no budget, no pay act" passed with a vote. 33 republicans voted against the bill, 199 voted for it. 86 democrats voted for the bill, 111 democrats voted against it. not only will the no budget, no pay act suspend the debt ceiling for about three months, it also requires the house and senate to pass budget resolutions by april 15th, and if they don't, representatives and senators will not get paid, which is of course, wildly unconstitutional. the 27th amendment prohibits congress from modifying their own paychecks in any way. they can vote to change the pay for future congress only, but republicans passing an unconstitutional bill, while at the same time relieving the pressure on the debt ceiling was welcomed by some democrats as republicans moving from out-right crazy to half-crazy. >> i'm not sure w
no budget, no pay. >> in the spotlight tonight, debt ceiling magic. that was house speaker john boehner after the house passed a bill making the debt ceiling disappear until may 18th, without cutting any federal spending. the stupidly named and conceived "no budget, no pay act" passed with a vote. 33 republicans voted against the bill, 199 voted for it. 86 democrats voted for the bill, 111 democrats voted against it. not only will the no budget, no pay act suspend the debt...
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Jan 6, 2013
01/13
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the issue that we need to cut spending and that we shouldn't just keep raising the debt ceiling. so those are the dynamics going into that fight. add into that that speaker boehner is in a somewhat weakened position coming out of a tighter than expected fight for him to be reelected speaker. he will be speaker again but had to overcome some dissension in his own ranks to get in that position. and it's not just the debt ceiling fight. rolled into that was the sequester, which was pushed back only two months as part of the fiscal cliff deal, and we have part of a government funding bill that's going to expire in march. we have a lot rolled into one fight here. >> we do, and we have another issue that we've got to keep our eyes on because, at the same time, david, "the washington post" has this article about the white house weighing a broad gun control agenda in the wake of the newtown shootings. vice president biden's task force reportedly considering these measures. it requires a universal background check for firearm buyers, tracking the movement and sale of weapons through a nat
the issue that we need to cut spending and that we shouldn't just keep raising the debt ceiling. so those are the dynamics going into that fight. add into that that speaker boehner is in a somewhat weakened position coming out of a tighter than expected fight for him to be reelected speaker. he will be speaker again but had to overcome some dissension in his own ranks to get in that position. and it's not just the debt ceiling fight. rolled into that was the sequester, which was pushed back...
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Jan 19, 2013
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and we have the infamous debt ceiling that will come into play. we will see a lot of activity in the next few months, debates about the purpose of the government, about the size of the deficit, and a lot of back- and-forth over these three issues. i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news wer
and we have the infamous debt ceiling that will come into play. we will see a lot of activity in the next few months, debates about the purpose of the government, about the size of the deficit, and a lot of back- and-forth over these three issues. i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create...
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Jan 2, 2013
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ceiling and the automatic cuts that have now been put off? >> well, look, they set out to roll john boehner in the house of representatives and in the end, john boehner got rolled. and john boehner said at one point in his career, not too long ago, that thanltd happen, but the writing was on the wall. at 2:00 in the morning, the night before last, wherever that was, chris, new year's eve, i guess, the night of new year's eve, 98-8 in the senate. they expected this to sweep away all the opposition, and ultimately, that's what happened, but not without a whole lot of drama yesterday. john boehner knew, the day after the election, when he approved in the raeburn room and said he was willing to give on revenues, $800 billion worth, just not by closing loopholes and simplifying a tax code and things of that nature, but not by raising rates. he saw the writing on the wall. everybody knew what the president had campaigned on, on that $250,000 threshold. obviously, the white house, a lot of smart people here knew that boehner had no flexibility. the
ceiling and the automatic cuts that have now been put off? >> well, look, they set out to roll john boehner in the house of representatives and in the end, john boehner got rolled. and john boehner said at one point in his career, not too long ago, that thanltd happen, but the writing was on the wall. at 2:00 in the morning, the night before last, wherever that was, chris, new year's eve, i guess, the night of new year's eve, 98-8 in the senate. they expected this to sweep away all the...
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Jan 2, 2013
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then, of course, the debt ceiling, the nation will bump up against the debt ceiling. that really is a big reason that republicans think that they're going to move on on this. that's where they think they have their big leverage. >> we'll be back in an hour from now. piers morgan tonight starts right now. our coverage continues. >>> breaking news tonight. you're looking live at capitol hill. the house of representatives. the house expected to vote this hour on the senate's fiscal cliff bill. and it's not an exaggeration to say that the health of america's economy may hang in the balance right now. you're going to want to stay right here and see what happens. we want to welcome our viewers in the united states and around the world. i'm wolf blitzer in for piers morgan. this is a real nail-biter we're watching, despite a threat by some republicans to add an amendment to the bill, an amendment that would have added over $300 billion in spending cuts and would have forced the bill back to the senate. the house is now on the verge of simply voting up or down on the senate b
then, of course, the debt ceiling, the nation will bump up against the debt ceiling. that really is a big reason that republicans think that they're going to move on on this. that's where they think they have their big leverage. >> we'll be back in an hour from now. piers morgan tonight starts right now. our coverage continues. >>> breaking news tonight. you're looking live at capitol hill. the house of representatives. the house expected to vote this hour on the senate's fiscal...